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Write a 2-3 papaper in which you analyze a current event or phenomenon that is related to the microeconomic theory. For example you may analyze price or wage effects of a government policy or economic shock. You may analyze the likely effects of proposed government policy in terms of who will likely benefit from the policy and who will likely be harmed. you may also propose a policy and describe its effects in a market of your choosing. You could describe a particular market, in detail, referring to the shape of of supply and demand curves, the degree of competition, and the likely effects of shocks or policies within this market.
I choose the topic on "Legalizing weed over the US", because it is related with black market, it can eliminate black market, can also help to by more supply and so on**
1. Explain the topic and how it is related to concepts of the course
2. Apply concepts dicussed in class(i.e.. supply and demand, consumer and surplus, price elasticity, market equilibrium, etc) be sure to highlight any assumption you are making in your model or analysis.
3. Make predictions, make recommendations, or conclude based on your microeconomic framework
4. Discuss any shortcomings of your model and how it might be improved(i.e.. any assumptions relaxed or modified to make it more realistic; is the model you presented inadequate in some way?
ps. When referring to a current ever please print and hand in any article to which you are referring **so, attach the article so I can print it as well*
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